first lien

Definition of "first lien"
  1. A priority claim or charge that is superior to all others of the same type, excluding exceptional circumstances such as government-imposed taxes
How to use "first lien" in a sentence
  1. After the bankruptcy declaration, the first lien on the property was paid out before other creditors received their share.
  2. Even though the company had multiple debts, the first lien held by the bank took precedence during liquidation.
  3. The investor was cautious about investing in a property that had a first lien attached to it, as it posed significant financial risk.

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